Global information services company Experian plans to acquire Compuscan and ScoreSharp for an undisclosed amount.
Compuscan, a South African-based credit bureau, provides consumer and commercial credit information within the country and other African nations. ScoreSharp is a specialist credit risk management consultancy that forms part of the Compuscan Group.
In a statement, Experian says the acquisition, which is subject to review by the competition regulator in SA, will create significant opportunities for further growth, innovation and financial inclusion across the wider African region.
The information services company goes on to say the merger will complement its core bureau data and decision software, as well as extend the services already provided by both companies in the South African market.
Charles Butterworth, MD of Experian UK and Ireland and EMEA, notes: "The South African market is a vital hub for our wider African business strategy. Compuscan is a company known for its data quality and agility, bringing with it an entrepreneurial culture that makes it a powerful and complementary fit with our business and our ambitions for the region. The acquisition, therefore, marks a significant milestone, opening up exciting opportunities as we expand across the region. We look forward to welcoming the Compuscan team to Experian and to including the Compuscan and ScoreSharp brand as part of our broader offer."
Remo Lenisa, CEO of Compuscan, adds: "By combining Compuscan and ScoreSharp with Experian, we will be able to enhance our products and services to our customers to better manage risk, help borrowers gain access to finance and help reduce over-indebtedness. We now have more depth and breadth of products and services to build out well-functioning credit markets in all the geographies we work in, and to pursue our expansion to additional countries on the African continent. The combined businesses will provide for the long-term development of our staff and create new employment opportunities. We look forward to welcoming Experian to all our stakeholders."
Share